PALO ALTO, Calif. and
TORONTO, Oct. 5, 2020 /PRNewswire/ -- Inpixon
(Nasdaq: INPX), a leading indoor data company that delivers Indoor
Intelligence™ solutions, today announced that it has entered into a
definitive agreement to acquire Nanotron Technologies
GmbH ("nanotron"), a global location awareness technology
company. The transaction is expected to increase Inpixon revenues
by over $5 million on an annual basis
and to be accretive.
Nanotron, headquartered in Berlin,
Germany, has established itself over the past two decades as
a leading provider of innovative IoT solutions for real-time
location systems (RTLS) and indoor and outdoor positioning
solutions utilizing both industry-standard technologies, such as
ultra-wideband (UWB), and patented proprietary wireless
communication technologies, such as Chirp Spread Spectrum (CSS).
Nanotron was named by MarketsandMarkets as one of the vendors
dominating in the global UWB market along with Apple, Samsung,
Decawave, NXP and others.
Inpixon believes this acquisition is transformational for the
company due to several factors, including, that it will:
- Strengthen and expand Inpixon's product portfolio and
capabilities for UWB, RTLS, and 2.4 GHz CSS, increasing precision
and decreasing latency to locate assets and people in
real-time.
- Expand Inpixon's intellectual property portfolio, including
patents covering its symmetrical double-sided two-way ranging
(SDS-TWR) licensed by Decawave.
- Expand Inpixon's user base. Nanotron cites that it has more
than 500 deployments to date, including several large-scale
deployments monitoring tens of thousands of anchors and tags.
- Deepen Inpixon's geographic presence in regions outside of
North America including
Europe, Asia, Africa,
South America and the Middle East.
- Expands Inpixon's partner relationships with marquee
distribution and technology partners, such as Arrow Electronics,
DigiKey and Decawave.
- Enhance the company's ability to design proprietary sensor
systems, including chips and multifunctional sensor systems for
various industries.
- Broaden Inpixon's industry coverage with construction,
manufacturing, mining, autonomous vehicles, and livestock, plus
expand use cases including live positioning, asset tracking,
collision avoidance, man-down and worker safety.
Nadir Ali, CEO of Inpixon,
commented, "Nanotron's first-in-class products, patents, and other
assets significantly enhance our overall Indoor Intelligence
platform. Through this acquisition, we are adding one of the
foremost engineering teams in the industry -- a pioneer in the
development of location-based technologies. Through the integration
of technologies, we look forward to providing seamless integration
across both indoor and outdoor positioning applications."
Soumya Das, Chief Operating
Officer of Inpixon, added, "Nanotron's Chirp technologies are
unique and give Inpixon a formidable offering for tag tracking in
the 2.4 GHz ISM band, with accuracy to the one-meter level and up
to five hundred meter in range. The 30-centimeter accuracy offered
by UWB is essential to helping our large enterprise and government
customers address some particularly tough challenges. Additionally,
nanotron's tag-to-tag communication methodologies can be
incorporated into Inpixon's Workplace Readiness solutions for
advanced social distancing and contact tracing capabilities to help
businesses reopen safely. We intend to leverage nanotron's
established global customer base, as well as their extensive system
integrator and reseller relationships, in order to expand our
customer reach, as well as to provide significant cross-selling and
up-selling opportunities."
Nanotron's IoT sensors, tags, tag modules and software
incorporate the following technologies and positioning
methodologies:
- Chirp Spread Spectrum: used in radar applications for precise
target locating based on time of arrival (ToA) estimation
- Symmetrical double-sided two-way ranging: a patented messaging
platform that allows ranging between simple, low-cost transceiver
devices
- Time of flight (ToF) ranging: physical distancing measurements
for accurate zoning, secure access and virtual safety zone
applications
- Time difference of arrival (TDoA) real-time locating systems
(RTLS): generating precise locations and providing highly scalable
deployment options.
Third-party market research firm MarketsandMarkets projects the
location based services (LBS) and real-time location systems (RTLS)
market will grow from USD $17.8
billion in 2020 to USD $39.2
billion by 2025, at a compound annual growth rate (CAGR) of
17.1%. Specific to UWB, MarketsandMarkets estimates the global UWB
market will grow from USD $1.1
billion in 2020 to USD $2.7
billion by 2025, at a CAGR of 19.6%.
In accordance with the terms of a Share Purchase Agreement,
dated October 5, 2020 ("Purchase
Agreement"), Inpixon, through its wholly-owned subsidiary, Inpixon
GmbH, as purchaser will acquire 100% of the outstanding capital
stock of nanotron with cash on hand for an aggregate purchase price
of $8.7 million. This transaction is
anticipated to close on or about October 6,
2020. For further information regarding the terms and
conditions of the acquisition contained in the Purchase Agreement,
please see Inpixon's Current Report on Form 8-K, which will be
filed with the Securities and Exchange Commission and available at
www.sec.gov.
Answers to frequently asked questions about this announcement
can be found on the FAQ available here.
Conference Call
Management will host a conference call today, Oct. 5, 2020, at 4:30 p.m.
Eastern Time to discuss the Company's corporate progress and
other developments. The call will be hosted by members of the
Inpixon leadership team including Chief Executive Officer
Nadir Ali, Chief Financial Officer
Wendy Loundermon, Chief Operating
Officer Soumya Das, Chief Technology
Officer Adam Benson, and Chief
Revenue Officer Tyler Hoffman.
The conference call will be available via telephone by dialing
toll free 877-407-8035 for U.S. callers or +1 201-689-8035 for
international callers, or on the Company's Investors section of the
website: ir.inpixon.com.
A webcast replay will be available on the Company's Investors
section of the website (ir.inpixon.com) through October 5, 2021. A telephone replay of the call
will be available approximately one hour following the call,
through October 12, 2020 and can be
accessed by dialing 877-481-4010 for U.S. callers or +1
919-882-2331 for international callers and entering conference ID:
37903.
About nanotron
Nanotron is a leading provider of electronic location awareness
solutions. If knowing what, where and when is mission-critical to
your business, rely on nanotron with Location Running. Nanotron's
solutions deliver precise position data augmented by context
information in real-time. Location Running means, reliably offering
improved safety and increased productivity, 24 hours a day, 7 days
per week: Location-Awareness for the Internet of Things (IoT). More
information at nanotron.com.
About Inpixon
Inpixon® (Nasdaq: INPX) is the Indoor Intelligence™ company that
specializes in capturing, interpreting and giving context to indoor
data so it can be translated into actionable intelligence. The
company's Indoor Intelligence platform ingests diverse data from
IoT, third-party and proprietary sensors designed to detect and
position active cellular, Wi-Fi, UWB and Bluetooth devices. Paired
with a high-performance data analytics engine, patented algorithms,
and advanced mapping technology, Inpixon's solutions are leveraged
by a multitude of industries to do good with indoor data. This
multidisciplinary depiction of indoor data enables users to
increase revenue, decrease costs, and enhance safety. Inpixon
customers can boldly take advantage of location awareness,
analytics, sensor fusion and the Internet of Things (IoT) to
uncover the untold stories of the indoors. For the latest insights,
follow Inpixon on LinkedIn, Twitter, and
visit inpixon.com.
Safe Harbor Statement
All statements in this release that are not based on
historical fact are "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995 and the
provisions of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. While management has based any forward-looking statements
included in this release on its current expectations, the
information on which such expectations were based may change. These
forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of risks,
uncertainties and other factors, many of which are outside of the
control of Inpixon and its subsidiaries, which could cause actual
results to materially differ from such statements. Such risks,
uncertainties, and other factors include, but are not limited to,
the fluctuation of economic conditions, the impact of COVID-19 on
Inpixon's results of operations, Inpixon's ability to integrate
Nanotron Technology and business into its existing business, the
performance of management and employees, the regulatory landscape
as it relates to privacy regulations and their applicability to
Inpixon's technology, Inpixon's ability to maintain compliance with
Nasdaq's minimum bid price requirement and other continued listing
requirements, including during a panel monitoring period ending on
February 5, 2021, the ability to
obtain financing, competition, general economic conditions and
other factors that are detailed in Inpixon's periodic and current
reports available for review at sec.gov. Furthermore, Inpixon
operates in a highly competitive and rapidly changing environment
where new and unanticipated risks may arise. Accordingly, investors
should not place any reliance on forward-looking statements as a
prediction of actual results. Inpixon disclaims any intention to,
and undertakes no obligation to, update or revise forward-looking
statements.
Inpixon Contacts
Media relations and general inquiries:
Inpixon
Email: marketing@inpixon.com
Web: inpixon.com/contact-us
Investor relations:
Crescendo Communications, LLC
Tel: +1 212-671-1020
Email: INPX@crescendo-ir.com
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SOURCE Inpixon